Cincinnati Tax Guy

Steve Hamilton is a Tampa native and a graduate of the University of South Florida and the University of Missouri. He now lives in northern Kentucky. A career CPA, Steve has extensive experience involving all aspects of tax practice, including sophisticated income tax planning and handling of tax controversy matters for closely-held businesses and high-income individuals.

Saturday, April 30, 2022

Basis Basics

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I am looking at a case involving a basis limitation. Earlier today I accepted a meeting invite with a new (at least to me) client who may ...
Saturday, April 23, 2022

A Model Home As A Business

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  What does a tax CPA do a few days after the filing deadline? This one is reviewing a 17-page Tax Court case. Yes, I would rather be wa...
Sunday, April 10, 2022

Losing Deductions By Not Filing A Tax Return

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I have become increasingly reluctant to accept a nonfiler as a client. That said, a partner somehow sneaks one or two a year into Command Ce...
Sunday, March 27, 2022

Can $2 Million Be An Honest Mistake?

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  It is a good idea to look over your tax return before hitting the “Send” button. Why? Because things happen. Some prep software approxim...
Sunday, March 20, 2022

IRS Wants Near $9 Million Penalty From A Holocaust Survivor

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  I’ll tell you what caught my eye: This is a tax case in which the Government alleges that Defendant Walter Schik, a Holocaust survivor, ...
Monday, March 14, 2022

Are Minimum Required Distribution Rules Changing Again?

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I wonder what is going on at the IRS when it comes to IRA minimum required distributions. You may recall that prior law allowed for someth...
Monday, March 7, 2022

Taxing Foreign Investment In U.S. Real Estate

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One of the Ps buzzed me about a dividend item on a year-end brokers’ statement. P:       “What is a Section 897 gain?” CTG: It has to d...
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Cincinnati Tax Guy
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